Thailand - Official exchange rate (LCU per US$, period average)

The value for Official exchange rate (LCU per US$, period average) in Thailand was 31.98 as of 2021. As the graph below shows, over the past 61 years this indicator reached a maximum value of 44.43 in 2001 and a minimum value of 20.34 in 1978.

Definition: Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar).

Source: International Monetary Fund, International Financial Statistics.

See also:

Year Value
1960 21.18
1961 21.06
1962 20.88
1963 20.83
1964 20.80
1965 20.80
1966 20.80
1967 20.80
1968 20.80
1969 20.80
1970 20.80
1971 20.80
1972 20.80
1973 20.62
1974 20.38
1975 20.38
1976 20.40
1977 20.40
1978 20.34
1979 20.42
1980 20.48
1981 21.82
1982 23.00
1983 23.00
1984 23.64
1985 27.16
1986 26.30
1987 25.72
1988 25.29
1989 25.70
1990 25.59
1991 25.52
1992 25.40
1993 25.32
1994 25.15
1995 24.92
1996 25.34
1997 31.36
1998 41.36
1999 37.81
2000 40.11
2001 44.43
2002 42.96
2003 41.48
2004 40.22
2005 40.22
2006 37.88
2007 34.52
2008 33.31
2009 34.29
2010 31.69
2011 30.49
2012 31.08
2013 30.73
2014 32.48
2015 34.25
2016 35.30
2017 33.94
2018 32.31
2019 31.05
2020 31.29
2021 31.98

Development Relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world.

Limitations and Exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output.

Statistical Concept and Methodology: The exchange rate is the price of one currency in terms of another. Official exchange rates and exchange rate arrangements are established by governments. Other exchange rates recognized by governments include market rates, which are determined largely by legal market forces, and for countries with multiple exchange arrangements, principal rates, secondary rates, and tertiary rates.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices